ProShares Short S&P 500 (NYSEARCA:SH) Hits New 52-Week Low – Time to Sell?

ProShares Short S&P 500 (NYSEARCA:SH)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.86 and last traded at $31.8360, with a volume of 3272115 shares trading hands. The stock had previously closed at $32.10.

ProShares Short S&P 500 Trading Up 0.3%

The company’s fifty day simple moving average is $33.08 and its 200-day simple moving average is $34.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stack Financial Management Inc acquired a new stake in ProShares Short S&P 500 in the 4th quarter worth about $90,286,000. UBS Group AG raised its holdings in shares of ProShares Short S&P 500 by 167.7% during the third quarter. UBS Group AG now owns 1,639,335 shares of the real estate investment trust’s stock valued at $60,590,000 after acquiring an additional 1,026,917 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in shares of ProShares Short S&P 500 in the first quarter valued at approximately $20,507,000. Arlington Capital Management Inc. purchased a new position in shares of ProShares Short S&P 500 in the third quarter valued at approximately $12,257,000. Finally, Arete Wealth Advisors LLC purchased a new position in shares of ProShares Short S&P 500 in the first quarter valued at approximately $10,853,000.

ProShares Short S&P 500 Company Profile

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.